Financial Performance - For the six months ended September 30, 2023, revenues increased to $78,574,409, up from $72,722,085 in the same period of 2022, representing an increase of approximately 8.5%[8] - Gross profit for the six months ended September 30, 2023, was $15,933,089, compared to $16,920,686 for the same period in 2022, indicating a decrease of about 5.8%[8] - The net loss attributable to China Jo-Jo Drugstores, Inc. for the six months ended September 30, 2023, was $924,247, compared to a net loss of $594,781 for the same period in 2022, reflecting an increase in loss of approximately 55.5%[8] - For the six months ended September 30, 2023, total revenue increased by $5,852,324 or 8.0% to $78,574,409 compared to $72,722,085 for the same period in 2022[20] - The net loss for the six months ended September 30, 2023, was $924,261, compared to a net loss of $595,034 for the same period in 2022[21] Assets and Liabilities - Total current assets as of September 30, 2023, were $69,821,187, an increase from $64,482,790 as of March 31, 2023, representing a growth of about 5.2%[5] - Total liabilities increased to $77,229,581 as of September 30, 2023, compared to $74,303,450 as of March 31, 2023, marking an increase of approximately 3.9%[5] - The company reported total shareholders' equity of $17,537,949 as of September 30, 2023, up from $16,667,152 as of March 31, 2023, indicating an increase of about 5.2%[5] - As of September 30, 2023, total current assets were $69,821,187 and total current liabilities were $69,784,281, resulting in a working capital of $36,906[36] Revenue Breakdown - Revenue from retail drugstores decreased by $6,624,271 or 15.3% to $36,644,373, accounting for 46.6% of total revenue[22] - Online pharmacy sales increased by approximately $1,850,426 or 13.2% to $15,899,743, driven by new e-commerce platforms like TikTok and increased sales on Tmall[25] - Revenue from the wholesale business surged by $10,626,169 or 69.0% to $26,030,293, contributing 33.2% of total revenue[22] - Wholesale revenue increased by $10,626,169 or 69.0% for the six months ended September 30, 2023[27] Expenses - Selling expenses, general and administrative expenses for the six months ended September 30, 2023, totaled $14,044,750, compared to $14,530,119 for the same period in 2022, a decrease of approximately 3.3%[8] - Selling expenses decreased to $14,044,750, representing 17.9% of total revenue, down from 20.0% in the previous year[21] - General and administrative expenses significantly reduced to $1,632,357, accounting for 2.1% of total revenue, compared to 5.0% in the prior year[21] - General and administrative expenses decreased by $2,002,894 or 55.1%, with expenses as a percentage of revenue dropping to 2.1% from 5.0%[33] Stock and Shares - The weighted average number of shares for the six months ended September 30, 2023, was 1,195,746, compared to 226,702 for the same period in 2022, reflecting a significant increase in shares outstanding[8] - The company plans to implement a 1-for-20 reverse stock split effective March 1, 2024, which will retroactively restate all shares and associated amounts[6] Currency and Translation - The company experienced a foreign currency translation loss of $794,542 for the six months ended September 30, 2023, compared to a loss of $3,428,158 for the same period in 2022, showing a significant reduction in losses[8] - The effect of exchange rate fluctuations resulted in a decrease in cash and cash equivalents of $1,970,324 for the period[21] Future Plans and Strategies - The company plans to implement marketing strategies such as local community sales events and a membership care program to counteract the decline in retail drugstore sales[24] - The company plans to continue cultivating ginkgo and maidenhair trees to maximize their market value in the future[27] Investment and Operations - Investment loss for the six months ended September 30, 2023, was $1,642,910, a 100% increase compared to the same period last year[34] - Income from operations was $255,982 for the six months ended September 30, 2023, compared to a loss of $1,244,684 a year ago[34] - Net cash provided by operating activities was $722,702 for the six months ended September 30, 2023, down from $1,057,742 in the same period last year[36] Pharmacy Count - The company had 128 pharmacies as of September 30, 2023, an increase from 111 pharmacies a year earlier[25]

HANGZHOU, China, March 19, 2024 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on March 15, 2024, notifying the Company that it has regained compliance with the Nasdaq Capital Market's minim ...

HANGZHOU, China, Feb. 27, 2024 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (the "Company") (Nasdaq: CJJD), a Cayman Islands exempted company, reported that it expects to implement a 1-for-20 reverse stock split on its ordinary shares ("Ordinary Shares") effective Friday, March 1, 2024, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the Ordinary Shares will continue on the Nasdaq Capital Market under the symbol "CJJD". The new CUSIP number for the Ordinary Shares ...

Exhibit 99.1 China Jo-Jo Drugstores Reports Fiscal Year 2023 Financial Results HANGZHOU, China, June 15, 2023 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (Nasdaq: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced its financial results for the fiscal year ended March 31, 2023. Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, "During the past f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of January, 2023 Commission File Number: 001-40724 CHINA JO-JO DRUGSTORES, INC. (Translation of registrant's name into English) Hai Wai Hai Tongxin Mansion Floor 6, Gong Shu District, Hangzhou City, Zhejiang Province, People's Republic of China, 310008 (Address of principal executive offices) Indicate by check ...